holiday budget

The holiday season is fast approaching again and if you’re someone who likes to shop early, you may have already noticed all the retailers boasting their incredibly early Black Friday deals in action now – just one week into the month of November.

While it’s important to give thanks and show appreciation for those who have helped and cared for us all year long during the holidays, there is far more about the season than just exchanging gifts.

Still, there are many of us that must show up for the Secret Santa events and for many of us even shop for those in need and donate to charities.

Either way, it’s important to maximize the money you spend this season so you can keep your own income in check and also get the best bang for your buck.

Here are 3 things you can do to make a holiday budget that’s worth sticking to!

1.      Shop Early & Wisely

As we mentioned many retailers are already offering steep discounts on products in hopes of capturing consumer dollars ahead of the big shopping days. Take advantage now while there still products on the shelves, empty store aisles and especially if you have coupons or rewards you can redeem to lower the prices further.

2.      Create a Separate Spending Fund

Don’t keep the same money you’re setting aside for gift buying and holiday giving in the pot where your monthly utilities and other expenses are drawn from. Especially since no one really uses cash these days it’s far too easy to go in over budget and take from important account funds if you’re not careful. To really lessen the chances of becoming a victim of a security breach and to keep your spending in check, withdraw some cash for the shopping and spend only that set amount. 

3.      Get Creative with Gifts this Year

For many of us, the troubles come not just in dedicated funds for holiday shopping but also coming up with new ideas on what to buy that person who has everything or who doesn’t seem to enjoy anything that’s purchased for them.

If you’re limited on finances this year or if you want to really make a lasting impact, consider taking the non- monetary route for some of your gifts this year. Spend quality time with older parents and seniors who you haven’t seen in a while, take your child to a concert or theater experience with you and build the important relationships and quality time that can’t be had in a gadget or piece of clothing.